STOCKS SOAR: Here's what you need to know

Stocks jumped and Treasurys fell on Thursday, with the Nasdaq hitting a new high and the Dow Jones Industrial Average logging its strongest performance in six weeks.Treasury Secretary Steven Mnuchin said a tax reform plan was coming "very soon."Here's the scoreboard:Dow:20,578.71, +174.22, (0.85%)S&P 500:2,355.84, +17.67, (0.76%)Nasdaq:5,916.78, +53.74, (0.92%)Virtu Financial, the high-speed trading firm, announced a deal toacquire KCG Holdings in an all cash transaction for $1.4 billion.Virtu CEO Doug Cifu said that'KCG fits perfectly with Virtu's strategic priorities," and said there would be "significant value creation through synergies."Verizon reported quarterly results that missed estimates and said it lost subscribers who pay a monthly bill, despite the relaunch of unlimited data plans.Verizon said it lost 307,000 retail postpaid subscribers on a net basis in the first quarter.Initial jobless claims, which count the number of people who applied for unemployment insurance for the first time, rose by 10,000 to 244,000 in the past week, more than expected."Companies hiring plans seem frozen like a deer in the headlights,"saidChris Rupkey, an economist at MUFG Union Bank.D.R. Horton beat on profits, helped by higher home sales. America's largest homebuilder raised its revenue forecast for the year.Additionally:A mystery trader called '50 Cent' has already lost $89 million but can't stop betting on a stock market shockALAN GREENSPAN: 'I turned off my hearing aid' after hearing Trump warn about the strong dollar2 Wall Street trading firms just announced a big deal, and employees should probably be worriedThe White House and Congress seem to be on completely different pages on their healthcare revivalFor the next few days, Wall Street is a deer in the headlightsALAN GREENSPAN: Here's the simplest way for Trump to deliver on his massive tax cut promiseJoin the conversation about this storyNOW WATCH: People are outraged by this shocking video showing a passenger forcibly dragged off a United Airlines plane
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